Transforming Lien Holder Service: A...

About the Company

Farm Bureau is a reputable insurance company that offers a comprehensive range of insurance products and services. With a focus on customer satisfaction and personalized attention, they aim to protect and support individuals, families, and businesses throughout the state with their insurance needs.

Abstract/Overview

This case study highlights how a company successfully transformed its lien holder service operations using self-service automation. By partnering with Enkay and implementing a self-service web portal powered by a Microsoft Chatbot framework, the company achieved significant benefits, including a reduction in phone calls, resource reallocation, improved operational efficiency, and enhanced customer experience. The study emphasizes the solution’s features, benefits, and outcomes, demonstrating the positive impact of self-service automation on insurance customer service.

Introduction

The insurance company faced the challenge of managing numerous lien holder calls daily, leading to resource constraints and operational inefficiencies. To address this issue, the company aimed to automate the lien holder service, reduce call volumes, and redirect staff to more valuable tasks. This case study explores the implementation of a self-service web portal powered by a chatbot framework to achieve these objectives.

Objectives

• Reduce or eliminate lien holder phone calls.
• Automate lien holder requests to verify coverage and provide real-time data.
• Repurpose resources for customer-facing tasks.
• Gain visibility into call volumes and information requested by lien holders.

Solution

The company partnered with Enkay to develop a self-service web portal using the Microsoft Chatbot framework. Key features and implementation steps include:

• Designing and branding a user-friendly web page per customer requirements.
• Implementing authentication measures to validate lien holders or their authorized agents.
• Integrating the chatbot with the back-end policy system for real-time data retrieval.
• Enabling lien holders to view, download, and access insurance coverage information online.
• Recording and storing all user interactions with the chatbot for analytical purposes.

Benefits

The implementation of the self-service web portal brought several benefits to the company:

• Reduced call volumes to the service center, enabling agents to focus on more critical tasks.
• Drastic cost reduction by eliminating the need for full-time resources in the lien service department. The hosted bot solution cost less than $50.00 per month.
• Improved accessibility for lien holders, allowing them to retrieve insurance coverage information during non-business hours.
• Enhanced visibility into the number and types of requests made by lien holders, enabling the company to gather valuable insights.

Conclusion

By leveraging self-service automation through a web portal and chatbot framework, the insurance company successfully transformed its lien holder service. The implementation resulted in reduced call volumes, optimized resource allocation, cost savings, and improved customer experience. The case study underscores the effectiveness of self-service automation in streamlining operations, enhancing efficiency, and meeting customer needs in the insurance industry.